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Many London Traders Will Sing Bonus Blues Recruiters Say, Some See 50 Percent Drop

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FX Week staff

21 Dec 1990

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"It’s been a pretty bloody awful year in London," comments a prominent financial headhunter. And that about sums up the news from the bonus front in this gray and cold city in the gloomy runup to Christmas. An informal poll of headhunters shows that traders are expecting the worst.

Although the headhunters say the situation varies greatly from bank to bank, a rough estimate of the average fall in bonuses is 50 percent--especially for younger traders. "One trader told me he didn’t expect to ge